CHARLOTTETOWN, P.E.I. — A brand new $35-million inexpensive housing venture is coming to the outskirts of Charlottetown.
The 82-unit venture shall be constructed on Malpeque Highway, throughout from the Mel’s Petro-Can station. The models shall be reserved for seniors and for ladies and youngsters. The venture will contain assist from all three ranges of presidency.
“Sixty-four of those models shall be devoted to low-income seniors on this neighborhood in order that they could age in place locally that they love,” Federal Housing Minister Ahmed Hussen stated throughout an announcement at Charlottetown Metropolis Corridor.
“And 18 of those deeply inexpensive quickly constructed houses shall be a protected haven for ladies and youngsters fleeing gender-based violence.”
About $5 million for the brand new venture was offered by way of the speedy housing initiative, a $1.5-billion federal funding initiative aimed toward establishing new inexpensive housing tasks rapidly.
The Metropolis of Charlottetown contributed one other $5 million.
“We’re utilizing a modular construct for this property, and this can imply a shorter building interval and fewer influence on an already very busy building sector as 80 per cent of the construct shall be accomplished in a manufacturing facility.”
P.E.I. Housing Minister Rob Lantz
The P.E.I. authorities kicked within the remaining $25 million for the venture. The buildings shall be owned by the P.E.I. Housing Company.
P.E.I. Housing Minister Rob Lantz stated the brand new models shall be prefabricated out of province with the intention to velocity up the development course of. The venture is anticipated to be accomplished by November of 2024.
“We’re utilizing a modular construct for this property, and this can imply a shorter building interval and fewer influence on an already very busy building sector as 80 per cent of the construct shall be accomplished in a manufacturing facility,” Lantz stated.
Charlottetown Mayor Philip Brown acknowledged the brand new housing venture is situated far outdoors of the downtown space.
“It is not within the downtown. However, with the province working with town and T3, our triple-P partnership on transit, we may have transit operating out to that space. That is one other method to increase our transit system,” Brown stated.
T3 transit does function a transit route within the space, which features a cease at close by condominium buildings. Nonetheless, the route doesn’t seem to run on weekends.
Whereas the development of the housing models shall be accomplished rapidly, Lantz stated highway and servicing work for the brand new rental models will nonetheless require greater than a yr to finish.
“Frankly for a improvement of this magnitude, it is fairly a shortened timeline,” he stated.
P.E.I. has a rental emptiness price of 0.8 per cent. Charlottetown’s emptiness price can be 0.8 per cent whereas Summerside’s is 0.7 per cent.
Which means the province is going through a power scarcity of rental housing at a time of rising inhabitants and a powerful financial system.